Profits:
A) Are residual payment
B) Are pre-determined
C) Are fixed contract
D) Are always higher than wages
Correct Answer:
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Q5: With decrease in price of bonds, rate
Q6: Every factor of production gets reward equal
Q7: According to Keynes, interest is a payment
Q8: In economics capital refers to:
A)Money
B)High quality goods
C)Trade
Q9: Professor Knight is famous for his theory
Q11: Profits:
A)Are lower in the long run than
Q12: Profits arise because an entrepreneur:
A)Prepares plan
B)Innovates
C)Lends money
D)Both
Q13: Gross profit does NOT include:
A)Rent of land
Q14: Some economists say that profit earner is
Q15: Risks in the business arise because of:
A)Introduction
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